Politicians who ought to have learned from recent history about the destructive effects of inflation and the stultifying nature of state socialism, responded to an immediate crisis by generating more than $1,000,000,000,000 of additional inflation and partially socializing banks! In so doing, Congress was unable to rise above the habit at which it has proven itself adept, namely, to print more debased currency and bestow it upon its corporate friends. As in the aftermath to 9/11, its reaction was one of reflexive desperation rather than considered analysis; like blind men throwing darts at a dart-board.
Bad policies caused the economic crisis. More bad policies will not deliver us from it. It's not too difficult to imagine that, when they were in those meetings to decide how to cope with this, that, over there, in the corner, a small whispering voice from a low ranking assistant clerk said "This is wrong."
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